Bold: How to Go Big, Create Wealth and Impact the World
“Right now, and for the first time ever, a passionate and committed individual has access to the technology, minds, and capital required to take on any challenge.”-Peter Diamandis
The world is changing at a rapid pace. The digital revolution offers a perfect opportunity for any individual to create something that has never been done or seen before. BOLD is a book that focuses on the tools that any entrepreneur in today’s age can use to create a impactful change for the planet. Bold is a highly motivational book that will really want to make get of the couch to tackle some of the world’s biggest problems. Its authors Peter Diamandis (co-founder of Singularity University and Space Adventures) and Steven Kotler (Writer for the New York Times, LA Times, Wired and GQ) have been avidly searching for new ways in which entrepreneurs today can change the world exponentially.
The storyline first focuses on helping us adopt a exponential mindset instead of a linear one. Humans have for thousands of years lived in a linear way. For a long time our days were only influenced by what happened a days walk away from us. If something happened on the other side of the world we couldn’t even know about it, let alone know the effect it would have on our lives. If you were to take 30 linear/sequential steps (one, two, three, four, five) you would be 30 steps away or 30 meters. If you took 30 exponential steps (one, two, four, eight, sixteen) you would be a billion meters away or 36 times around the planet. Thats the power of exponential growth.
This mind set is critical for us making a lasting change in any industry or endeavor we decide to pursue. For instance, most companies are trying to improve their operations and revenue by 10 percent. However, this means more competition, given that if you try to make things a little better you will have to be up against all the others who are in that range. But if you 10x those improvements you can be well ahead of your competition, because very few companies (and only the best) are aiming to make things 1000 times better.
Technology is another area that is exponentially growing. One example of this is Moore’s Law (an observation made by the co-founder of INTEL, James Moore) that states that the efficiency of technology doubles every year by the same price. This means that next year’s iPhone will have double the processing power, than this year’s, and the price will be the same. Another example is the Sony Playstation 3 which has the same processing power than the ASCI Red, the worlds fastest computer, which was unveiled in 1966 and cost 55 million dollars to develop. This tell us that new technology in four or five years will have an amazing performance and entrepreneurs today need to prepare before hand on how to use these technologies to make an impactful change in their industry.
Some of the business categories that BOLD focuses on are: 3D Printing, Artificial Intelligence, Robotics, and Sensors. These are just a few of the ways that technology is becoming more power and less expensive as the exponential power of the digital age progresses. Entrepreneurs that take advantage of this fact will have a big advantage over others that are trying to innovate in more common areas. Likewise industries that turn their back on technology will be disrupted by someone else and be left behind.
The Power of the Crowd (Crowd Sourcing and more)
Another key point that is addressed in the book is the power of the crowd. BOLD develops on four kinds of crowdfunding: donation (digital version of charity), debt (micro loans or peer to peer lending), equity (cash in exchange of equity or stocks), and reward (gets some sort of reward for the money). Diamandis and Kotler take the reader step by step on how to use the power of the masses to get resources that otherwise would not be possible.
You can also use crowd sourcing for perfecting systems, for example the android platform. The android platform is open for everyone to use and modify. So the system is continuously being upgraded and improved by different coders around the world making it a more useful system with only a few hired android engineers working on it. Bold gives you a walkthrough on how to make these campaigns useful. From campaigns that reach $100k in funding to getting collaboration from hundreds of people online to build a successful company/product.
BOLD is a great book if you have an interest in technology or want to really see the depth and rate at which the world is changing. It is very motivational but does have some technical advice that will help you improve the way you use technology or how it can be applied for your business. I would not recommend this book to someone who is already an expert in technology. I do have to admit it is long but it is one of those books that you won’t get bored reading, due to the amount case studies it explores.
- Start creating a «moonshot mindset.» Write two ideas everyday on how you can exponentially change (make it a thousand times better) your business or sector.
- Google the best crowdsourcing platform in your area and start actively participating in it. It is a way great place to really get your hands on cutting-edge ideas that are happening in your industry.
For further reading on this subject I would recommend The Second Machine Age by Erik Brynjolfsson and Andrew McAfee